Day One Biopharmaceuticals (NASDAQ:DAWN) Given “Outperform” Rating at Wedbush

Wedbush reissued their outperform rating on shares of Day One Biopharmaceuticals (NASDAQ:DAWN) in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a $32.00 target price on the stock.

A number of other analysts have also recently issued reports on DAWN. HC Wainwright lowered their price objective on Day One Biopharmaceuticals from $40.00 to $36.00 and set a “buy” rating on the stock in a research report on Wednesday. TD Cowen upgraded shares of Day One Biopharmaceuticals to a “strong-buy” rating in a research note on Monday, November 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $32.00 price objective on shares of Day One Biopharmaceuticals in a report on Wednesday. The Goldman Sachs Group lowered their target price on shares of Day One Biopharmaceuticals from $48.00 to $43.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Finally, Bank of America dropped their price target on shares of Day One Biopharmaceuticals from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $34.86.

Day One Biopharmaceuticals Price Performance

NASDAQ DAWN opened at $9.85 on Wednesday. The company’s fifty day moving average is $12.29 and its two-hundred day moving average is $13.44. The firm has a market capitalization of $992.83 million, a price-to-earnings ratio of -9.56 and a beta of -1.46. Day One Biopharmaceuticals has a 52-week low of $9.77 and a 52-week high of $18.07.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released its earnings results on Tuesday, February 25th. The company reported ($0.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.34). The company had revenue of $29.21 million during the quarter, compared to analyst estimates of $27.11 million. As a group, sell-side analysts expect that Day One Biopharmaceuticals will post -0.72 earnings per share for the current fiscal year.

Insider Activity at Day One Biopharmaceuticals

In other news, insider Samuel C. Blackman sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $13.31, for a total transaction of $399,300.00. Following the completion of the sale, the insider now owns 1,034,015 shares of the company’s stock, valued at approximately $13,762,739.65. This trade represents a 2.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Adam Dubow sold 4,646 shares of Day One Biopharmaceuticals stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $11.96, for a total transaction of $55,566.16. Following the completion of the transaction, the general counsel now owns 39,602 shares of the company’s stock, valued at $473,639.92. This trade represents a 10.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,064 shares of company stock valued at $651,225 in the last ninety days. Insiders own 8.40% of the company’s stock.

Hedge Funds Weigh In On Day One Biopharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of DAWN. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Day One Biopharmaceuticals by 38.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,611 shares of the company’s stock valued at $51,000 after buying an additional 1,002 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in Day One Biopharmaceuticals by 87.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 19,203 shares of the company’s stock valued at $267,000 after acquiring an additional 8,935 shares in the last quarter. SteelPeak Wealth LLC raised its stake in shares of Day One Biopharmaceuticals by 9.8% in the third quarter. SteelPeak Wealth LLC now owns 17,400 shares of the company’s stock worth $242,000 after acquiring an additional 1,550 shares during the last quarter. TimesSquare Capital Management LLC raised its stake in shares of Day One Biopharmaceuticals by 8.2% in the third quarter. TimesSquare Capital Management LLC now owns 1,827,695 shares of the company’s stock worth $25,460,000 after acquiring an additional 139,160 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in shares of Day One Biopharmaceuticals during the third quarter worth approximately $825,000. Institutional investors and hedge funds own 87.95% of the company’s stock.

Day One Biopharmaceuticals Company Profile

Day One Biopharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops and commercializes targeted therapies for patients with genomically defined cancers. Its lead product candidate is tovorafenib, an oral brain-penetrant type II pan-rapidly accelerated fibrosarcoma kinase inhibitor that is in Phase II clinical trial for pediatric patients with relapsed/ refractory low-grade glioma.